835AAK. Interpretation (Chapter 4)

(1) For the purposes of this Part, an ‘interest group’ shall comprise the companies within the charge to corporation tax in the State that—

(a) are—

(i) members of the same worldwide group, or

(ii) where not members of the same worldwide group, deemed to be members of the same group of companies under section 411,

and

(b) have elected to be members of the interest group.

(2) Where a company, branch or agency, or any activities of a company, branch or agency, falls to be included in two interest groups, then the company, branch or agency shall elect to be treated as a member of one such group only for the purposes of this Part.

(3) The election referred to in subsection (1) shall—

(a) apply for a period of at least three years from the beginning of the accounting period in respect of which the election is made or, if later, the date on which one of the conditions set out in subsection (1)(a) is satisfied,

(b) be made in such form as the Revenue Commissioners shall specify, and

(c) be made on or before the specified return date for the accounting period to which the election first relates.

(4) Subsequent to the period referred to in subsection (3)(a), an election referred to in subsection (1) may be withdrawn and such withdrawal shall—

(a) apply for a period of at least three years from the beginning of the accounting period in respect of which the withdrawal is made,

(b) be made in such form as the Revenue Commissioners shall specify, and

(c) be made on or before the specified return date for the accounting period to which the withdrawal first relates.